HDFC Capital invests Rs 15.50 bn in SP Real Estate projects

11 Nov 2022 CW Team

HDFC Capital Advisors, a real estate private equity investment manager owned by top mortgage lender HDFC, has invested over Rs 1,550 crore in a portfolio of residential projects of property developer Shapoorji Pallonji Real Estate.

The investment, made through structured debt instruments, will flow into six projects spread over nearly 7 million square feet in Mumbai and Pune. It will be utilised for financial closure of projects, repayment of high-cost debt, and working capital, the companies said.

“Our partnership with HDFC Capital Advisors will give us significant headroom to capitalise on growth opportunities in our targeted markets. This partnership will add immense value to our project pipeline and propel our growth further,” said Venkatesh Gopalakrishnan, chief executive officer of Shapoorji Pallonji Real Estate.

Vipul Roongta, managing director and chief executive of HDFC Capital Advisors, said through its partnership with Shapoorji, HDFC Capital will focus on meeting the increasing demand for high-quality homes for mid-income households in India.

“In line with the ‘housing for all’ vision of the government of India, HDFC Capital’s endeavour is to increase the supply of housing in India by providing flexible, long-term capital to leading developers across India,” he said.

All the six projects are greenfield projects in the mid-income category, with some components of premium as well as affordable segments.

Technology

13 May 2026

Vedanta eyes AI-led value growth

Vedanta Group expects to unlock USD 300–400 million in additional value over the next three years through large-scale deployment of AI-led industrial technologies across its businesses. The group said its V-Spark DeepTech Ventures platform has already delivered nearly four times return on investment since inception.Vedanta is scaling AI, predictive analytics, Industrial Internet of Things, digital twins, machine learning, automation and connected manufacturing technologies across its metals, mining, energy and industrial operations. These deployments are aimed at improving productivity, lowe..

Hindustan Zinc inks pact with Group Nirmal

Hindustan Zinc has signed an MoU with Group Nirmal to set up a zinc wire manufacturing facility at its Zinc Industrial Park in Khankhala, Bhilwara district, Rajasthan. The partnership will expand downstream manufacturing activity and support value-added zinc applications in India.Under the agreement, Group Nirmal will manufacture zinc wire products using Hindustan Zinc’s Special High Grade zinc. The products will cater to infrastructure, renewable energy, automotive and industrial engineering sectors.Zinc wire is used in thermal spray coating and metallising processes to protect steel struct..

Covestro launches efficiency project

Covestro has launched its largest energy-efficiency project with an investment in a new steam compressor at its Dormagen site in Germany. The company said the modernisation will reduce its energy consumption in Germany by two per cent annually compared to 2025 levels.The project is expected to save a low three-digit GWh volume of energy and more than 40,000 tonne of CO2 emissions each year. Covestro is investing a low double-digit million-euro amount in the upgrade.The compressor will function on the principle of a heat pump. Water vapour generated during the production of TDI, a component use..